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iCAD (NASDAQ: ICAD) reported its financial results for Q1 2024, showing notable improvements across several metrics. Total revenue increased by 14% year-over-year to $5.0 million. Gross profit margin rose to 83% from 82%, contributing to a gross profit of $4.1 million. Despite a GAAP net loss of $1.2 million, this marks a significant improvement from the $3.1 million loss in Q1 2023. Operating expenses decreased by 18% to $5.6 million. The company's ARR also grew by 10% to $9.0 million. Cash and cash equivalents stood at $20.3 million as of March 31, 2024.
iCAD, Inc. (NASDAQ: ICAD) will report its financial results for the first quarter of 2024 on May 15, 2024, and host a conference call at 8:30 AM Eastern Time. The company specializes in AI-powered cancer detection solutions.
iCAD, Inc. will report its first quarter financial results on May 15, 2024. The company specializes in AI-powered cancer detection solutions. The earnings call will provide insights into the company's performance for the quarter ended March 31, 2024.